[USER]

I am getting an inheritance of 98000 dollars. I am 68 and partially retired and get SS. First off paying off credit cards and since I am still working I am planning on saving half of what I earn.

I have the opporunity to put the money into an ABC account with Allianz Life insurance and as soon as it is deposited I get a 25 percent bonus. You can add to it for 18 month and it earns about 5 percent or more depending on how risky I want to be. Is this a good idea or bad idea?

I do not know much about this at all so any suggestions… Simply please would be helpful.

[Kelly]

I would pay off debts and consider reviewing your other debts assets and then possibly investing it in the s&p500.

[Mark]

When receiving large unexpected sums it is often wise to take some time to do some education and develop a plan.

Paying off the cc debt is probably a good first step but then I’d recommend placing in a high yield savings account or money market and do some self study.

You mention Simple Path to Wealth which is an awesome first start there.

Have you seen: Safe investment options for $1 million to generate income?

[Bill]

This is not an “opportunity”. A commissioned salesperson is attempting to scam you out of your inheritance.

Run away from whoever is trying to sell you that and never do business with them again.

[Mark]

Drop it in an HYSA and think about it for a bit. Throw the annuity idea in the trash immediately.

[Jule]

Annuities are definitely not part of our financial plan.

[Author]

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